Current Affairs - Business

Rashtriya Ispat Nigam (Visakhapatnam Steel Plant) and IOCL signed an MoU on August 27, 2024, to ensure the supply of hydraulic and lubricating oils and greases to RINL from 2024 to 2029. The agreement, exchanged by RINL Director (Projects) Sri AK Bagchi and IOCL ED Sri B. Anil Kumar, also includes collaboration in technical support, lubrication, and training. This partnership highlights IOCL's role in providing essential resources to RINL and enhancing its operational efficiency.

Tata AIA Life has launched the 'Sampoorna Raksha Promise' plan, which stands out for its instant payout feature, offering ₹3 lakh upon death claim intimation for urgent expenses. The plan also includes flexible options such as premium deferral, terminal illness benefits, and life-stage facilities. Additionally, it provides comprehensive coverage up to the age of 100, with extra features like premium waivers and accelerated benefits, making it a robust and versatile insurance option.

Tata Consultancy Services (TCS) launched its 5th global Pace Studio in Manila, Philippines, as part of its strategy to drive digital innovation and co-innovation with customers in the Asia-Pacific region. This new studio is integrated into TCS's broader Pace network, which includes other studios in Riyadh, Sydney, Letterkenny, and Stockholm, along with Pace Ports in major cities like Tokyo, Amsterdam, New York, and more. The Manila studio aims to strengthen TCS's presence in the region and foster cutting-edge digital solutions.

Bajaj Auto is preparing to launch the Freedom 125, a new generation 125cc motorcycle available in both petrol and CNG variants. This motorcycle is notable for its unique design, featuring a 21-inch front wheel and a 16-inch rear wheel. Priced at Rs 95,055, the Freedom 125 is positioned in the affordable segment, aiming to attract customers interested in both traditional and electric motorcycles, which Bajaj views as a significant opportunity in India's growing two-wheeler market.

Bharat Heavy Electricals Limited (BHEL) secured a significant contract worth over ₹11,000 crore from Adani Power Limited and its subsidiary Mahan Energen Limited. The contract involves the development of three Supercritical Thermal Power projects, each with a capacity of 2x800 MW, located in Kawai Phase-II and III in Rajasthan, and Mahan Phase-III in Madhya Pradesh. This project underlines BHEL's role in supporting India's energy infrastructure.